KUALA LUMPUR: Bank Negara Malaysia (BNM) says it has moved forward, becoming stronger, more transparent and accountable, after bouncing back from suffering major foreign exchange (forex) losses more than two decades ago.
BNM was responding to a New Straits Times (NST) front page report today on massive foreign exchange losses which occurred in the early 1990s.
“Under the current challenging and uncertain global environment, it is important that we focus on ensuring our financial system and the economy remain resilient and stable,” it added.
NST’s report quoted former Bank Negara assistant governor Datuk Abdul Murad Khalid as saying that the central bank had suffered forex losses of US$10 billion (RM44 billion) in the early 1990s.